Veritone, which is developing a platform that analyzes unstructured media data, announced terms for its IPO on Friday.
The Newport Beach, CA-based company plans to raise $19 million by offering 1.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Veritone would command a fully diluted market value of $202 million.
Veritone was founded in 2014 and booked $9 million in sales for the 12 months ended December 31, 2016. It plans to list on the Nasdaq under the symbol VERI. Wunderlich Securities and Craig-Hallum Capital Group are the joint bookrunners on the deal. It has not set a pricing date, but is on our IPO calendar for May.
